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Aramco deal may add 8-10% to RIL stock’s target price

image ET Intelligence Group: Reliance Industries (RILNSE 11.24 %) has lost over 9 per cent of its market capitalisation in just one month on concerns over burgeoning borrowings on its balance sheet. Its decision to raise funds by selling equity stake in its refining, fuel retailing and petrochemicals business to Saudi Aramco should allay these fears. This is second major deleveraging exercise undertaken by the refining-to-telecom-to-retail conglomerate in past five months to de-leverage its balance ................ET